The Inventory Accuracy “Confidence Gap”

Talking Logistics

The research focused on the inventory visibility and optimization challenges that companies face today related to omni-channel fulfillment and the actions they should take to elevate their omni-channel performance. And it begins with improving their inventory accuracy.

Gaining Clarity on Inventory Effectiveness

Supply Chain Shaman

The impact of complexity on inventory is not quick. To help, today I want to share some of the insights from our recent Inventory Optimization study. Inventory management is a hot issue. Companies invest in project after project, yet inventory levels remain the same.

Design, Operating and Situational Inventory Trade-Offs

ToolsGroup

Gartner analyst Paul Lord has developed a framework to better understand inventory trade-offs by categorizing those decisions according to the objectives they are meant to achieve: structural, operational and situational. or “How can we reduce inventory and improve our balance sheet?”.

Seven Misconceptions on Managing Inventory in a Market-Driven World

Supply Chain Shaman

When it comes to the management of inventory in value chains, frustration abounds. Executive, after executive, lament, “They have purchased many technologies and sponsored many projects to reduce inventories, but they are not seeing results.”

Inventory Obsolescence: It Can Get Complicated

ToolsGroup

The knack in today’s innovation economy is to understand how the value of a particular SKU deteriorates or its costs increase so that profit erosion can be factored into inventory optimization calculations. But correctly modeling inventory obsolescence is important.

Five Types of Inventory Optimization You Should Know

ToolsGroup

Inventory configuration is usually the predominant issue in most manufacturing environments. Inventory policy is usually the predominant issue in most distribution environments. This risk pooling approach frequently requires less inventory.

How You Can Optimise Your Inventory to Save Money

Unleashed

The phrase ‘flushing money down the drain’ can feel like a reality if your inventory isn’t managed properly. Managing inventory can be daunting, but the feeling of losing money because of inventory can be even worse. It’s time to pay attention to what’s going on in your warehouse and make your inventory save money for you. Let’s see what inventory management techniques can help put a few more dollars back into your accounts.

The Benefits of Evolved Vendor Managed Inventory Model Led by Web-Based VMI

Cerasis

So why do we feature content related to Vendor Managed Inventory? In a VMI model, part of the equation is the inbound & outbound flow of the inventory. Inventory is then put on pallets and shipped as freight. ” Vendor Managed Inventory Model: A Quick Back Story.

SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

Spinnaker Management Group asked me to co-present on a demand-driven webinar with SanDisk. Instead, in the SanDisk journey , they adjusted the speed of response to their customer segments, and actively designing inventory postponement strategies.

Vendor Managed Inventory Model for Supply Chain Cost Reductions

Cerasis

Below I will outline how a vendor managed inventory model, in conjunction with reverse marketing, value analysis, and collaboration will achieve supply chain cost reductions. Vendor Managed Inventory Model for Supply Chain Cost Reductions. The distributor maintains the inventory plan.

ABC Analysis of Inventory: Optimize Business Bottom Line

OptiProERP

The most common concern supply chain management experts struggle with is accurately identifying the causes of inventory inconsistencies. If a discrepancy is identified when users pick an item or perform a count, an inventory correction needs to be performed. Categorizing your inventory.

Port Logistics Group acquires e-commerce tech firm Whiplash

EFT

Port Logistics Group , an omnichannel logistics services provider, has acquired Whiplash Merchandising, Inc. The move comes just over a year after Port Logistics Group took an ownership interest in Whiplash: since February 2018, Port Logistics Group has fulfilled more than 1.5 This brings Port Logistics Group’s warehouse space up to 6.3 Port Logistics Group is investing in the technology and software to further drive innovation.

Group Purchasing Organizations: More Than a Healthcare Opportunity

AFFLINK

Historically, group purchasing organizations (GPOs) have been primarily utilized within the healthcare industry. A GPO is a group of businesses or organizations that come together to use their collective purchasing power to receive discounts from vendors.

S&OP: An Interview with Nari Viswanathan, Aberdeen Group

Logility

In case you missed it, I recently spoke with Aberdeen Group’s Nari Viswanathan about the change in S&OP strategy. With better and timelier information, you can more tightly manage your inventory.

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Case Musti Group: Thriving in a Complex, Multinational, Supply Chain Environment

RELEX Solutions

Case Musti Group: Thriving in a Complex, Multinational, Supply Chain Environment. Musti Group at a Glance. Company name Musti Group Nordic Oy. – Matti Salmi, Purchasing Director, Musti Group Nordic. Store Service Manager, Musti Group Nordic.

Structuring Your Demand Planning Group to Make its Greatest Contribution

Supply Chain Nation

Whether you are contemplating creating a demand planning group within your company, or questioning whether your current demand planning is as functional as possible, Part 2 of this 4-part series is aimed to help you navigate the hurdles of structuring your organization and its supported processes, so as to ensure your demand planning group is established and organized for its greatest chance of success.

What’s new in the automotive supply chain? (Hint: Inventory Replenishment Policies)

The Network Effect

Today I want to explore how automobile suppliers are improving their operations via inventory replenishment policies. Effective inventory replenishment policies in use today include the 830/862 converted to a delivery release, KanBan, Min/Max, and Sequencing.

Winning the Inventory Battle in the Consumer Products Industry

Logility

From a supply chain standpoint the battle for new product profitability relies largely on two key capabilities, developing accurate new product forecasts and optimizing new product inventory. reduction in finished goods inventory (days). Capability 2: Optimize New Product Inventory.

Supply Chain Agenda of Alessandro de Luca, SVP at Merck Group

Supply Chain Movement

Alessandro de Luca, Senior Vice President, Head of Global Supply Network Operations at Merck Group. I am responsible for the end-to-end global supply chain for Merck Serono, the group’s pharmaceutical division. ‘Real-time communication in order to be able to react fast is key’.

Groups 104

Retail Inventory Shrinkage Remains a Problem

Enterra Insights

For the last few years, inventory shrinkage has annually cost U.S. ” Regardless of how inventory is lost, shrinkage costs retailers a lot of money. To reduce shrinkage, retailers need to have a strategy to address each of the ways inventory can be lost. Inventory shrinkage strategies. Addressing inventory shrinkage begins with inventory management. Trujillo explains, “Take the plunge and invest in an inventory management system.

Inventory Optimization: How to Handle Slow Movers

Supply Chain Nation

You may be wondering why the number of raspberry gourmet coffee boxes Kroger has in their inventory at their store in rural Georgia even matters, but it does and here’s why: Inventory management is a critical part of every company’s supply chain and is a large part of the operating costs in all industries. Handling inventory of fast movers, items that are sold quickly and in large amounts, is very well understood. This is why we support groups service levels.

Are you getting the most out of your inventory management process?

Kinaxis

by Andrew Dunbar Inventory is often the single largest asset on a company’s balance sheet and your inventory management process can have a huge impact on your organization’s bottom line. Finance and business management will prioritize inventory reduction to increase profitability.

Merchants Market Group Implements Blue Ridge Supply Chain Planning Technology

Blue Ridge

Enables leading Caribbean food service distributor to accurately forecast seasonal demand patterns and precisely align inventory levels at every distribution center. Blue Ridge leadership believes the team at Merchants Market Group is poised for greater success. “We’re

What is Inventory?

Logistics Bureau

Well, I asked Keiran Hogan one of our inventory management experts, exactly that question! Inventory can best be described as any materials or goods that pass through or are held in your business and are necessary in order to carry out your trade. Inventory Management.

Three Rules of Inventory

Logility

Bryan Ball, vice president and principal analyst, supply chain management, Aberdeen Group, has outlined three rules to follow in his latest report, “ Inventory Optimization - Impact of a Multi-Echelon Approach.”

Three Rules of Inventory

Logility

Bryan Ball, vice president and principal analyst, supply chain management, Aberdeen Group, has outlined three rules to follow in his latest report, “ Inventory Optimization - Impact of a Multi-Echelon Approach.”

How Inventory Management is a problem the size of Australia

The Network Effect

Inventory distortion costs retailers nearly $158 for every man, woman, and child on the planet. Billion a year is the cost of Inventory distortion in North America, an amount equivalent to the annual revenues of Kroger, Home Depot, and Target combined. chem7/Flickr.

PCI Case Study: Hybrent’s Solution Revolutionizes Reporting & Streamlines Operations for One of the Largest Multi-Specialty Physician Groups in Iowa

Hybrent

Physicians’ Clinic of Iowa (PCI) is one of the largest private, multispecialty physician groups in Iowa, with locations in Cedar Rapids and Waterloo. He found that the lack of information and visibility also frustrated the PCI employees who were responsible for placing orders, interacting with vendors, and managing inventories for the various departments within PCI. This has given PCI users the confidence to reduce inventories closer to real time fulfillment. SITUATION.

Building A Demand Planning Group: Roles and Skillsets to Consider

Supply Chain Nation

Once you’ve decided your company will create a demand planning group and have determined what processes your organization will support , you can decide how to structure and staff it. As discussed in Part 2, there may be other functions combined with demand planning in your group. These roles don’t even need to be in the same organization—the technical role could go to IT and the consensus building role could be combined with a buyer or inventory planning role.

Is your inventory manager a firefighter or an air traffic controller?

Kinaxis

by Andrew Dunbar This is the second blog in my series on Inventory Management. You can find the first one ‘ Are you getting the most out of your inventory management process? Managing inventory can be a challenging job! Inventory managers have to balance multiple conflicting priorities, support multiple internal and external customers, and are typically responsible for millions of dollars spread across multiple sites. Who manages inventory at your company?

Struggling with Multi-Echelon Inventory Adoption

Arkieva

2006-2009 I did a PhD on Multi-Echelon Inventory Optimization. Though benefits are clear, multi-echelon inventory adoption has been very slow. Pilots within and across company boundaries have been convincing, but we have not seen a widespread multi-echelon inventory adoption.

Inventory Reduction: The Path to Supply Chain Management

LeanCor

Inventory Reduction: The Path to Supply Chain Management. Inventory is not only a critical part of supply chain management; too often it is the main cause of a painfully incremental progression toward effective and genuine supply chain management. This inventory builds.

HCL Tech signs global alliance agreement with JDA Software Group

Supply Chain Network

From IIFL: “HCL Technologies, a leading global IT services provider, announced today that it has signed a global alliance agreement with the JDA Software Group, Inc, leader in supply chain management. The alliance addresses the unique supply chain challenges for business in the areas like planning, procurement, production, distribution, warehousing, inventory, transportation and customer services.

Sales, Inventory & Operations Planning (SiOP) – Part Two

Arkieva

Where supply chain wants to see details, finance is OK with aggregated levels like per region and product group. The lack of a good forecast creates service issues, unbalanced inventories and operational firefighting costs. Inventory Management S&OP Supply Chain Supply Planning

Operational Excellence: Streamlining the Warehouse Layout Process

Talking Logistics

Understand how the inventory moves. The first step in the process is to dig into the data on your current operations to determine the “behavior” of your inventory. This includes characteristics like: The volume of inventory on pallets vs. cartons. Can inventory be racked?

What Your Inventory Can Tell You About Your Promotional Strategies

Cognira

Below are some thoughts about promotions from the POV of an Inventory Manager. Inventory Managers can see that there is no turning back time on the discount clock. Why do Inventory Managers care? How does this impact Inventory Management?

Do You Understand Your Chief MRO Inventory Challenges?

Logistics Bureau

Given this knowledge then, does your organisation place enough importance on the management of MRO inventory? If yours is one of them, and you’re wondering where and how to start getting a grip on MRO inventory, this post might help. MRO Inventory Forecasting: A Matter of Opinion?